Less than two years after being conceptualized, Minneapolis-based digital lending & borrowing platform DeFiner.org has beat out 17 other Fintech startups to win one of the industry’s most coveted prizes.
DeFiner.org was announced as winner of the 2019 Detroit Fintech Challenge on Sat., Aug. 3. “We are humbled and honored to have received this distinction,” said Jason Wu, Founder and CEO of DeFiner.org, a peer-to-peer lending platform that uses blockchain and smart contract technology to allow safe transactions without a middleman.
The company’s prize: $7,500 in cash, $5,000 in legal aid, a fully-paid week-long residency at Silicon Fintech Bay in San Francisco, and options for an equity-based $50,000 investment and a $50,000 software and business development package from Kyyba Group.
“These are crucial resources to continue our mission of promoting financial trust, growth, and simplicity,” said Wu. “We are now looking ahead to the Silicon Valley residency and a chance to meet venture capitalists.”
This is the second year of the contest in this new industry shaking up finance and technology. The competition featured three rounds of sessions for participants to present and demonstrate their product or service. Six finalists then pitched to a group of judges representing industries from the Detroit area, including GM Financial.
About Detroit Fintech Challenge
The Detroit Fintech Challenge is an annual competition challenging players in the Fintech ecosystem to generate enduring solutions to the biggest challenges and major concerns in the financial, payments, banking, and insurance sectors.
For more information go to DetroitFintechChallenge.com.
DeFiner.org is a peer-to-peer lending platform, or marketplace for lenders and borrowers to transact directly without a middleman. Borrowers can use their cryptocurrency assets as collateral for crypto or fiat currency loans. DeFiner.org uses blockchain and smart contract technology for secure, trusted transactions.
DeFiner provides liquidity, reduced lending fees, 24/7 on-demand loans, and reduced transaction time. To help do so, DeFiner has developed strategic partnerships with industry leaders in the blockchain and crypto sphere. Partners include Binance to track the value of cryptocurrencies, Kyber Network to allow users to seamlessly swap between tokens, and Wyre for flexibility in converting between cryptocurrencies and cash.